MacroBusiness
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See the latest Australian dollar analysis here:
Things are not looking good in risk-taking land with the COVID-19 delta variant causing a lot of concerns that are spilling over into equity markets which fell sharply overnight. Coupled with the snap OPEC supply surge that has seen oil fall over 7%, commodity markets and commodity currencies are selling off while Treasury yields are down to their February lows just below the 1.2% level in a sign that safe haven buying is accelerating.
Bitcoin’s deflation continues with the return to the start of year position at $30K as the daily downtrend line (upper black sloping line) still holds on – remember turn this chart upside down and you’d be buying!